Period (days) 30.0 32.5 Debt to Equity (times) 1.1 1.1 Return on Assets (%) 12.8 13.1 Return on Equity (%) 19.0 20.0 Analysis of the consolidated cash flow statement Cash flow Statement (Unit : Million

million based on loans from financial institutions. Our interest-bearing debt therefore amounted to THB 2,145 million or equivalent to the ratio of interest-bearing debts to total equity of 0.31 times, up

December 2016 due mainly to trade payables and other payables. We also made additional utilization of THB 1,145 million based on loans from financial institutions. Our interest-bearing debt therefore

debt therefore amounted to THB 3,512 million or equivalent to the ratio of interest-bearing debts to total equity of 0.50 times, up from 0.14 times as of 31 December 2016. Our ratio of debts to total

, considering solely the interest-bearing debt, it amounted THB 38,606.3 mm, increased by THB 2,225.8 mm from THB 36,380.5 mm. The main reasons are as follows: 1. Increase in short-term loans from financial

3,233.5 mm from THB 45,085.6 mm as of 31 December 2017. Besides, if considering the interest-bearing debt, it amounted THB 38,038.9 mm, increased by THB 3,604.4 mm from THB 34,398.5 mm. The main reasons are

interest-bearing debt, it amounted THB 38,038.9 mm, increased by THB 3,604.4 mm from THB 34,398.5 mm. The main reasons are as follows: 1. Decrease in short-term loans from financial institutions of THB 178.2

THB 532.5 mm from THB 45,085.6 mm as of 31 December 2017. Besides, if considering the interest-bearing debt, it amounted THB 35,462.8 mm, increased by THB 1,064.3 mm from THB 34,398.5 mm. The main

(days) 64.13 66.10 Average Inventory Period (days) 14.67 14.07 Average Payables Period (days) 27.50 28.38 Debt to Equity (times) 1.21 1.01 Return on Assets (%) 12.23 13.48 Return on Equity (%) 19.15 19.88

in liabilities under lease agreements and (2) a decrease in cash and cash equivalents. The debt-to-equity ratio increase to 1.11 at 31 March 2020 compared to 0.43 at the end of 2019. This increase was